Adelayde Exploration Updates Private Placement Terms

Adelayde Exploration Inc. has updated the terms of its private placement aimed at funding an upcoming gold drill program in Esmeralda County, Nevada. The company announced on September 16, 2025, that each unit in the offering will now consist of one common share and one-half of a transferable share purchase warrant.

Each whole warrant will entitle the holder to purchase an additional share at a price of $0.075 until five years after the closing of the financing. All securities issued in connection with the private placement are subject to a statutory hold period of four months and one day following the closing. Finder's fees may be paid to eligible finders.

The net proceeds from this financing are allocated towards the company's general working capital. Adelayde Exploration Inc. is engaged in mineral exploration with assets including lithium projects in Clayton Valley, Nevada, and the Clayton Ridge gold project. The company also holds antimony and tungsten projects in New Brunswick.

The company's lithium assets include the McGee lithium clay deposit, which has an estimated resource of over 2 million tonnes of lithium carbonate equivalent. Adelayde also holds the Elon lithium brine project and the Green Clay lithium project in Nevada.